May 7, 2003
Claude Drills Porky Lake Gold Discovery

Following up on its 2002 West Porky discovery (press release May 8/02), Claude Resources completed 5,775 metres in 28 holes of infill drilling on the West Porky main zone, complemented by 2,913 metres in 13 holes testing the structure to the west-northwest. Claude’s 2003 drill program was successful in confirming continuity within the main zone and in discovering a new arenite-hosted high-grade zone one kilometre to the west-northwest. The West Porky project is approximately two kilometres north of the Company’s wholly-owned Seabee mine. Significant drill intersections from 2002 and 2003 are detailed in the ensuing table.


2002 Drill Results – West Porky Main Zone
Hole #
Map ref.
From (m)
To (m)
Interval (m)
Grade (g/t)
 Host Rock
PKY02-01
M1
69.25
72.30
3.05
54.33
 Fault in calc-silicate
122.70
125.70
3.00
14.12
 Silicified arenite
PKY02-02
M2
35.00
36.70
1.70
2.69
 Calc-silicate
PKY02-03
M3
36.50
39.30
2.80
1.83
 Calc-silicate
50.95
52.30
1.35
8.90
 Silicified arenite
62.20
64.40
2.20
8.46
 Silicified arenite
PKY02-04
M4
37.90
39.80
1.90
4.62
 Calc-silicate
73.55
77.40
3.85
15.79
 Silicified arenite
PKY02-05
M5
15.30
16.40
1.10
2.43
 Calc-silicate
18.30
19.50
1.20
2.87
 Calc-silicate
PKY02-06
M6
12.00
13.00
1.00
3.74
 Calc-silicate
67.20
70.70
3.50
6.04
 Silicified arenite
PKY02-07
M7
128.80
130.20
1.40
10.70
 Calc-silicate
152.60
155.00
2.40
1.32
 Silicified arenite
PKY02-08
M8
107.10
111.40
4.30
3.06
 Silicified arenite
PKY02-09
M9
64.95
66.80
1.85
6.90
 Calc-silicate
117.10
118.70
1.60
2.37
 Silicified arenite
PKY02-10
M10
25.40
26.50
1.10
1.10
 Calc-silicate
PKY02-11
M11
37.00
37.50
0.50
54.96
 Calc-silicate
101.30
104.90
3.60
12.44
 Calc-silicate
PKY02-12
M12
87.50
88.20
0.70
1.49
 Silicified arenite
PKY02-14
M14
179.60
182.00
2.40
7.44
 Calc-silicate
188.90
191.75
2.85
4.34
 Calc-silicate
PKY02-15
M15
239.80
241.20
1.40
1.98
 Calc-silicate
246.90
248.50
1.60
2.37
 Silicified arenite
PKY02-16
M16
202.15
204.10
1.95
9.98
 Calc-silicate
227.70
229.45
1.75
3.51
 Silicified arenite
PKY02-17
M17
191.10
191.60
0.50
1.71
 Calc-silicate
257.10
257.80
0.70
1.65
 Silicified arenite
PKY02-18
M18
333.55
335.20
1.65
1.83
 Calc-silicate
338.70
340.70
2.00
4.00
 Silicified arenite
2003 Drill Results – West Porky Main Zone
Hole #
Map ref.
From (m)
To (m)
Interval (m)
Grade (g/t)
 Host Rock
PK03-19
M19
199.15
200.30
1.15
3.67
 Calc-silicate
PK03-19
259.00
259.40
0.40
7.44
 Arenite
PK03-20
M20
145.60
164.60
19.00
3.00
 Calc-silicate
Includes
145.60
149.45
3.85
7.26
 Calc-silicate
and
161.90
164.60
2.70
6.36
 Mafic volcanics
PK03-20
227.70
229.45
1.75
7.24
 Arenite
PK03-21
M21
217.05
217.30
0.25
17.23
 Arenite
PK03-22
M22
196.20
197.20
1.00
5.06
 Calc-silicate
PK03-22
218.30
219.75
1.45
4.60
 Calc-silicate
PK03-22
227.30
229.35
2.05
4.69
 Mafic volcanics
PK03-22
248.30
250.40
2.10
5.90
 Calc-silicate
PK03-22
270.25
279.30
7.95
7.15
 Arenite + felsite
PK03-22
290.20
292.50
2.30
9.24
 Arenite
PK03-23
M23
159.25
160.10
0.85
7.26
 Calc-silicate
PK03-23
208.55
209.40
0.85
5.82
 Arenite
PK03-24
M24
92.65
95.45
2.80
11.77
 Mafic volcanics
PK03-24
105.90
107.60
1.70
3.68
 Calc-silicate
PK03-24
116.80
118.30
1.50
6.17
 Calc-silicate
PK03-24
121.45
122.95
1.50
3.66
 Calc-silicate
PK03-25
M25
130.50
134.10
3.60
1.44
 Mafic volcanics
PK03-25
179.40
180.45
1.05
8.86
 Arenite
PK03-26
M26
166.55
170.50
3.95
1.47
 Mafic volcanics
PK03-27
M27
115.10
120.00
4.90
7.16
 Quartz calc-silicate
Includes
115.10
117.50
2.40
12.50
And
119.40
120.00
0.60
7.68
 Quartz vein in mafic volcanics
PK03-27
164.00
165.65
1.65
3.79
 Quartz vein in mafic volcanics
PK03-28
M28
19.80
21.50
1.70
4.08
 Mafic volcanics
PK03-28
93.95
94.56
0.61
8.50
 Arenite
PK03-29
M29
147.30
149.10
1.80
1.74
 Calc-silicate
PK03-29
243.30
245.65
2.35
3.56
 Arenite
PK03-29
260.15
264.45
4.30
3.62
 Arenite
PK03-30
M30
77.30
79.50
2.20
11.08
 Mafic volcanics
PK03-30
144.20
161.30
17.10
3.62
 Arenite
Includes
146.90
148.65
1.75
9.49
And
156.55
159.15
2.60
6.99
PK03-31
M31
66.30
67.50
1.20
2.98
 Mafic volcanics
PK03-31
109.95
111.65
1.70
2.54
 Calc-silicate
PK03-31
130.15
132.15
2.00
1.97
 Arenite
PK03-31
151.00
153.50
2.50
8.57
 Arenite
PK03-33
M33
191.75
194.25
2.50
2.09
 Mafic volcanics
PK03-34
M34
108.05
109.60
1.55
3.83
 Calc-silicate
PK03-34
158.95
160.90
1.95
3.01
 Arenite
PK03-36
M36
53.35
57.30
3.95
2.06
 Calc-silicate
PK03-36
90.53
91.98
1.45
3.99
 Calc-silicate
PK03-40
M40
109.50
111.25
1.75
2.24
 Mafic volcanics
2003 New Discovery – West Zone
Hole #
Map ref.
From (m)
To (m)
Interval (m)
Grade (g/t)
 Host Rock
GA03-1
W1
89.60
91.85
2.25
5.57
 Mafic volcanics
GA03-4
W4
210.00
211.80
1.80
10.54
 Arenite
GA03-6
W6
96.85
99.80
2.95
33.22
 Arenite
GA03-6
119.20
121.60
2.40
11.81
 Arenite
GA03-6
157.10
162.20
5.10
6.12
 Quartz vein in arenite
Includes
157.10
158.75
1.65
14.66
 Hanging Wall contact of vein
GA03-10
W10
202.75
210.03
7.28
2.73
 Quartz vein in arenite
Includes
203.75
206.00
2.25
5.88
GA03-12
W12
205.60
207.35
1.75
9.05
 Arenite
GA03-13
W13
256.95
258.60
1.65
6.86
 Arenite
The West Porky discovery comprises two principal styles of mineralization; shear-related sulfide-replacement in calc-silicate altered, mafic volcanic rocks and free gold associated with silicification of a feldspathic arenite. As shown on the accompanying plan map and longitudinal sections, both styles appear as planar surfaces that substantially parallel the SSE-trending, steeply dipping metamorphosed volcano-sedimentary contact. Both mineralized structures appear to plunge moderately to the southeast and either pinch-out or are truncated by a felsite dike along their eastern margin. Drilling confirmed continuity over 400 metres of strike length, routinely to a depth of 250 metres on approximately 50-metre centres.

The dominant sulfide phases in the replacement style of mineralization are pyrite and pyrrhotite. Arsenopyrite is a constituent of both the calc-silicate and arenite-hosted mineralization. However, metallic assays indicate that the gold contents in both rock types are typically in the coarser fraction and only weakly correlative with arsenopyrite.

The new discovery to the west-northwest is hosted by the feldspathic arenite. Drilling to date has returned several very encouraging intervals. Although constrained near surface by shallow drilling, the depth potential of this zone and its relationship to the West Porky system are recognized as substantive, high priority drill targets. Induced polarization and ground magnetometer surveys have been conducted to facilitate zonal modeling.

Both the West Porky and West zones outcrop on the Currie Rose property in which Claude Resources has a 100% working interest, subject to a 30% Net Profits Interest in favour of Currie Rose Resources.

The core from the Porky Lake project was logged and split at the Company’s logging facility at the Seabee mine. Initial assaying was done by the mine’s assay laboratory. The pulps and rejects from all samples that assayed over one gram per tonne were shipped out and reassayed by TSL Laboratories in Saskatoon. Total metallic assays were routinely performed on samples that exceeded five grams per tonne by conventional assaying methods. The qualified person on the project is Philip E. Olson, P. Geo. (Sask).

Click on each of the following maps for more information:

Geological map of West Porky Lake area
Main Zone plan map
West Zone plan map
Main Zone Long Section
West Zone Long Section.
For further information please contact:

Philip Olson P.Geo.
Vice President, Exploration
Claude Resources Inc.
Saskatoon, Saskatchewan
306.668.7505

Claude Resources Inc.
200, 224 - 4th Avenue South
Saskatoon, Saskatchewan
S7K 5M5
306.668.7505 P
306.668.7500 F
 Toronto Stock Exchange
Trading Symbol CRJ